Summary: Luan Peng ChainCatcher
Important News:
- Tether and Uquid collaborate to support Filipinos to pay social security with USDT
- CoinShares: Digital asset investment products see outflows for the third consecutive week, totaling $30 million
- Matrixport: Bitcoin and Ethereum are the best-performing major assets since the beginning of the year
- OKLink Security Monthly Report: Accumulated losses of approximately $210 million in June, phishing fraud losses down 75.69%
- Bithumb warns of impersonation of executives and employees for listing fees and investment fraud
- 10x Research: Technical indicators turn bullish, Trump's re-election prospects boost Bitcoin price
"What important events have occurred in the past 24 hours"
Tether and Uquid collaborate to support Filipinos to pay social security with USDT
According to Cointelegraph, Tether, the world's largest stablecoin issuer, has partnered with Web3 shopping and infrastructure company Uquid to introduce a new cryptocurrency payment option. Through the TON blockchain, this collaboration enables Filipino citizens to use Tether USDT to pay for Social Security System (SSS) fees. Uquid stated that this partnership demonstrates how stablecoins like USDT and cryptocurrencies can simplify and enhance daily life convenience.
Uquid CEO Tran Hung expressed that the collaboration with Tether signifies a significant step in their journey to integrate digital currencies into daily transactions, making small cryptocurrency payments feasible. This latest initiative supported by Tether sets a new benchmark for the convenience and accessibility of digital shopping.
In recent years, the demand for stablecoins has been steadily increasing, making them a major liquidity provider in both centralized and decentralized markets, and gradually being applied to daily payments. Mainstream payment platforms including PayPal and Ripple have also introduced or planned to introduce their own stablecoins to meet the growing demand.
According to the latest weekly report from CoinShares, digital asset investment products have seen outflows for the third consecutive week, totaling $30 million.
Ethereum saw outflows of $119 million in the past two weeks, marking its worst performance of the year. In contrast, multi-asset and Bitcoin ETPs saw inflows of $18 million and $10 million, respectively. Trading volume increased by 43% last week to $6.2 billion, but it remains below the year-to-date weekly average of $14.2 billion.
Net inflows were observed in the United States, Brazil, and Australia, while net outflows were seen in Germany, Hong Kong, Canada, and Switzerland.
According to data released by Matrixport, Bitcoin and Ethereum have been the best-performing major assets since the beginning of the year. Ethereum and Bitcoin have risen by 48.3% and 46.0%, respectively, showing the best performance. The Nasdaq and S&P 500 indices have risen by 20.0% and 15.1%, while oil and gold have risen by 14.2% and 12.7%, and the US dollar has risen by 4.5%, while bonds have fallen by 6.6%.
OKLink released its security monthly report for June 2024, revealing that blockchain security incidents across the network have accumulated losses of approximately $210 million. Among these, phishing fraud accounted for 9.91% of the losses, REKT events accounted for 20.83%, and RugPull events accounted for 3.53%.
The largest security event causing REKT occurred on June 10th when UwU Lend was attacked, resulting in approximately $22.7 million in losses. The attacker exploited a vulnerability in the contract related to price manipulation, causing approximately $19 million in losses. On June 13th, they again exploited an operational error in contract governance by the project team, profiting $3.7 million.
Additionally, there were 31 cases of official social media being subjected to fraud and phishing events, mainly concentrated on X, Discord, and various phishing websites. OKLink reminds users not to click on unverified links, not to disclose their private keys or mnemonic phrases to anyone, and to maintain a skeptical attitude towards projects promising abnormally high returns. Before investing, it is essential to conduct in-depth research on the project and team. Security awareness is your most powerful shield in the Web3 world.
Bithumb warns of impersonation of executives and employees for listing fees and investment fraud
According to an official announcement, Bithumb has noticed recent incidents of impersonation of Bithumb executives and employees for listing and investment fraud. Bithumb advises users to be cautious of related risks to avoid losses.
Based on cases provided by Bithumb, these fraudsters typically arrange meetings in coffee shops near Bithumb's headquarters, pretending to have connections with actual Bithumb employees, relevant personnel, and prominent entrepreneurs to gain the victim's trust. Subsequently, they request payment for listing fees or deceive funds under the guise of political or economic management. Bithumb emphasizes that under no circumstances will they request payment for listing fees, lobbying, or investment advice. Additionally, Bithumb continues to make ongoing efforts through various channels to prevent listing fraud and telecommunications financial fraud, including the release of relevant prevention guidelines.
10x Research: Technical indicators turn bullish, Trump's re-election prospects boost Bitcoin price
10x Research has released a market analysis report indicating that after previously reporting "Bitcoin is severely oversold" on June 25th, three market reversal indicators have now turned bullish. The approval of the Ethereum ETF has been postponed to around July 8th, delaying the "Sell The News" date, while Biden's poor performance in the presidential debate has led the market to favor Trump's re-election prospects, boosting the price of Bitcoin.
"What are the exciting articles worth reading in the past 24 hours"
Singapore MAS "Global Layer 1 - Foundation Layer for Financial Networks" White Paper
Perhaps many people have not noticed that the entire blockchain industry is undergoing an unprecedented transformation driven by the public sector, which will affect the future landscape of the entire human financial and monetary system.
In June 2024, the Monetary Authority of Singapore (MAS) officially released the white paper "Global Layer 1: Foundation Layer for Financial Networks," marking Singapore's establishment of an important "central bank blockchain." At the same time, the "mBridge" blockchain, jointly created by the Bank for International Settlements, the People's Bank of China, and the Hong Kong Monetary Authority, has entered the MVP stage and openly invited international cooperation.
Prior to this, the Bank for International Settlements (BIS) published an article in April 2024 titled "Financial Internet (Finternet)," outlining the future blueprint and vision for tokenization and unified ledgers, indicating the central bank's attitude towards this transformation.
From 0 to 9-figure Crypto Capital Advocate: Getting to Know Andrew Kang's Dual Life
Recently, Mechanism Capital co-founder Andrew Kang made bearish comments about ETH. Perhaps many people have limited knowledge about him, but he has been deeply involved in the crypto industry for many years, having invested in high-quality projects such as Thorchain, Pancakeswap, and Frax Finance, each with a market value of several billion. He has also achieved considerable success in trading. This article provides an introduction to Andrew Kang based on the sharing of X platform user @Atlas, for readers' reference.
Due to the lack of high-yield opportunities and the unattractiveness of the domestic stock market, ordinary investors in Japan have long been known for their enthusiasm for leveraged trading. Individual currency traders in Japan have a significant influence on the TRY/JPY (Turkish Lira/Japanese Yen) forex pair, and the international financial community has even coined the term "Mrs. Watanabe" to represent them. When Bitcoin and other cryptocurrencies entered the mainstream user market in the early 2010s, Japanese day traders enthusiastically embraced this emerging asset class. However, investors soon faced domestic challenges, including two well-known exchange hacks, combined with Japan's lack of attractiveness in entrepreneurship and investment, leading to the country's declining position in the Web3 field.
Interview with Lumaogong Studio: Revealing the "Brushing" World of Web3
Recently, LayerZero and various Layer 2 projects have launched a fierce attack on the Lumaogong community. From the perspective of rule-making and decision-making authority, it seems that the two sides are not evenly matched. The introduction of various anti-whale policies corresponds to the suspicion of "rat warehouses" for most qualified airdrop addresses, triggering conflicts between the two groups that once had a tacit understanding.
Until Binance founder He Yi wrote about the rise and fall of the currency circle, stating, "Today, the market has indeed changed again. The self-destructive evolution of the Lumaogong Studio and L2 project has turned into a farce, and the era of Lumaogong may be coming to an end." This completely shifted the focus of the crypto world to the two opposing groups.
From an external perspective, the project has implemented anti-whale mechanisms to restrict the Lumaogong Studio from gaming airdrops, while the Lumaogong Studio continues to increase costs to meet the anti-whale standards. It seems that the project and the Lumaogong Studio are in a confrontational relationship, but is this really the case?
Odaily Planet Daily conducted an anonymous interview with the founder of Lumaogong Studio, LM (alias), to reveal the fascinating stories behind the Lumaogong Studio and the project team that must be told.
One of the important attributes of a good blockchain user experience is fast transaction confirmation time. Today, Ethereum has made significant improvements compared to five years ago. Thanks to EIP-1559 and the stable block time after the transition to PoS (The Merge), transactions sent by users on L1 can usually be confirmed within 5-20 seconds, roughly equivalent to the experience of using a credit card for payment. However, further improving the user experience is valuable, with some applications even requiring delays of a few hundred milliseconds or even shorter. This article will explore some practical options for Ethereum (to improve transaction confirmation time).
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